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Individual Tax - DDT Mutual Fund (Non-Equity) Dividends, Income Tax

Issue Id: - 108982
Dated: 3-8-2015
By:- Pandu N
Individual Tax - DDT Mutual Fund (Non-Equity) Dividends

  • Contents

Per new Govt act, from Oc 1, 2014, DDT needs to paid @ 28.33%. More details here. Pls check under non-equity funds (equity fund dividends are tax exempt). Pls look at two tables in Pg# 1 & Pg# 3.

Two questions.

(1) My Mutual Fund company did not do TDS for DDT. It does not show up in Form 26 AS. Which means I need to pay DDT while doing the filing. Question: Where do I declare it? It is taxed @ 28.33% (not 30.33% which is for Short term capital gain tax). For me, the savings are close to ₹ 2k.

(2) Second question: This law is effective Oct 1, 2014. For FY 2014-15, does that mean there are two tax regimes for DDT. One at 22.33% (previous tax rate) and another at 28.33 (existing tax rate)? If yes, again, how do I declare it..

If (2) is not answered it's ok. Requesting answer for (1) atleast.


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